Barclays Boosts salesforce.com (NYSE:CRM) Price Target to $330.00

salesforce.com (NYSE:CRM) had its price target upped by Barclays from $320.00 to $330.00 in a report released on Friday morning, The Fly reports. The firm currently has an overweight rating on the CRM provider’s stock. The analysts noted that the move was a valuation call.

Other research analysts have also recently issued reports about the stock. Roth Capital raised their target price on shares of salesforce.com from $200.00 to $242.00 and gave the stock a neutral rating in a report on Thursday, August 26th. Nord/LB set a $275.00 price objective on shares of salesforce.com in a research note on Tuesday. Mizuho lifted their price objective on shares of salesforce.com from $290.00 to $300.00 and gave the company a buy rating in a research note on Thursday, August 26th. Royal Bank of Canada set a $310.00 price objective on shares of salesforce.com in a research note on Wednesday, September 1st. Finally, Oppenheimer lifted their price objective on shares of salesforce.com from $265.00 to $290.00 and gave the company an outperform rating in a research note on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Buy and an average price target of $298.58.

Shares of NYSE:CRM opened at $260.53 on Friday. salesforce.com has a 52-week low of $201.51 and a 52-week high of $275.22. The company has a market capitalization of $255.06 billion, a P/E ratio of 104.63, a price-to-earnings-growth ratio of 7.35 and a beta of 1.09. The company has a 50-day simple moving average of $252.10 and a 200 day simple moving average of $235.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 0.93.

salesforce.com (NYSE:CRM) last issued its earnings results on Tuesday, August 24th. The CRM provider reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.56. salesforce.com had a net margin of 9.99% and a return on equity of 7.15%. The business had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period last year, the business posted $1.44 EPS. salesforce.com’s revenue was up 23.1% on a year-over-year basis. As a group, equities analysts forecast that salesforce.com will post 2.09 earnings per share for the current year.

In other salesforce.com news, CEO Marc Benioff sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 15th. The shares were sold at an average price of $254.95, for a total value of $5,099,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Joe Allanson sold 151 shares of the business’s stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $248.00, for a total transaction of $37,448.00. The disclosure for this sale can be found here. Insiders sold a total of 787,956 shares of company stock valued at $197,416,939 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in CRM. Amundi purchased a new stake in salesforce.com in the 2nd quarter worth approximately $1,100,891,000. Akre Capital Management LLC purchased a new stake in salesforce.com in the 2nd quarter worth approximately $683,956,000. Morgan Stanley lifted its stake in salesforce.com by 20.2% in the 2nd quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock worth $4,046,065,000 after purchasing an additional 2,787,393 shares in the last quarter. Polen Capital Management LLC lifted its stake in salesforce.com by 31.0% in the 1st quarter. Polen Capital Management LLC now owns 9,228,555 shares of the CRM provider’s stock worth $1,955,254,000 after purchasing an additional 2,186,033 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in salesforce.com by 134.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,472,998 shares of the CRM provider’s stock worth $735,824,000 after purchasing an additional 1,993,259 shares in the last quarter. Institutional investors own 77.33% of the company’s stock.

salesforce.com Company Profile

salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.

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